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The U.S. Commerce Department released new home sales data on Tuesday. New home sales jumped 16.6% to a seasonally adjusted annual rate of 619,000 units in April from 531,000 units in March. March's figure was revised up from 511,000 units.
Analysts had expected new home sales to reach 523,000 units.
The decrease was mainly driven lower sales in the West and South region. New home sales in the West region jumped 18.8% in April, while new home sales in the South region climbed 15.8%.
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